- JMP Securities analyst Erik Suppiger downgraded Proofpoint Inc PFPT to Market Perform from Outperform without a price target post the Q2 results.
- The company is suspending guidance for the remainder of the year in light of the pending Thoma Bravo transaction set to close in Q3, Suppiger notes.
- The likelihood of the acquisition by Thoma Bravo is very high, as per the analyst.
- Price action: PFPT shares closed at $174.63 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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